The 20-year bond yield has moved 0.39 percentage point and the 30-year yield has moved 0.48 percentage point since the beginning of February.
That is, the apparent 104-basis-point yield advantage of the 30-year 5.5% Freddie Mac over a seven-year Treasury is less than it seems.
The 10-year Italian yield fell 0.09 percentage point to 5.50%, while the 10-year Spanish yield dropped 0.11 percentage point to 5.83%.
Yields subsequently moved higher to 2.97% at the 10-year having earlier reached the lowest in five months, while the two-year yield at one point reached a three-month low.
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The yield on 10-year Italian government bonds rose 0.15 percentage point to 5.07%, while Spain's 10-year yield climbed 0.1 percentage point to 5.46%.
Microsoft sold 10-year debt with a yield of 0.70 percentage point more than 10-year Treasurys.
The 10-year yield has risen more than three-quarters of a percentage point from its low of 2.38% on Oct. 8, a remarkably quick move.
In Britain shares in the FTSE 100 index trade on an historic price-earnings ratio of less than ten and yield 5%, around three-quarters of a percentage point more than government bonds.
Spain's main stock index fell 2.6% Thursday, while the country's 10-year bond yield rose 0.04 point, to 6.59%, according to Tradeweb.
Investors who grasp for that last percentage point of yield and buy long-term bonds are making a gigantic bet that rates will fall even further or at least hold even.
The 10-year Japanese yield was down 0.04 percentage point at 0.845% in late Tokyo trading.
Italy's 10-year government bond yield soared 0.52 percentage point to 4.88%, while the corresponding yield on Spain's bond also jumped, rising 0.24 percentage point to 5.34%.
The point is that Italy's bond yield - the implicit interest rate it pays - is unlikely to fall decisively below the catastrophically unaffordable 7% unless and until the eurozone demonstrates that there is a bailout facility (of some sort) that has sufficient resources to lend to Italy if investors refuse to do so.
Tour Eiffel has a 5.7% earnings yield, a full percentage point greater than the French ten-year, whereas U.S. REITs average just a half-point over the ten-year T note.
The yield on its 2021 A2-rated paper managed a seven basis point decline to 5.02% while 10-year government note yields eased by 11 pips to 3.02% widening the premium to 200 basis points or 2%.
The yield on 10-year bonds soared to 6.68pc at one point, leading to frantic speculation that Italy will require an international bail-out.
On September 9th, Hankook Tyre, a tyre maker with an investment-grade rating, issued 45 billion won-worth of three-year bonds at some 40 basis points (hundredths of a percentage point) above the average three-year bond yield in the secondary market.
Never mind that the Bloomberg REIT index yields a mere 4%, a discount of 0.6 percentage points to the ten-year Treasury note--and a most expressive contrast to the REIT's 8.1% yield in March 2000, which at the time was a two-point premium to the ten-year note.
The yield on the five-year note fell more than 0.09 percentage point, to 0.810%, its largest one-day change since Nov. 1.
Contracts expiring beyond one-year forward saw implied yields rise by seven basis points while government bond futures expiring in September fell by one-half point to trade at 125.81 carrying a yield of 2.94% as its yield crossed back above those available on comparable treasuries.
At this point, fixed interest rates, even for high yield (junk-rated) debt, are near historic lows.
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Remember that interest rates rarely shift up in a parallel fashion, so the yield curve will probably flatten, with longer-maturity yields rising by less than one point.
At European stocks markets close, the yield on the government's benchmark 10-year bond was down 0. 16 percentage point at 5.86%, according to Tradeweb.
Bond prices advanced by more than one full point and enough to shave 10 basis points off the 10-year yield, which slid to 3.04%.
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The yield on the 10-year note this week hit 3.33%, a full percentage point above its October low.
Consider that the double-B subset of the Barclays High-Yield Index, at 4.33% on Tuesday, is nearly a full percentage point lower than where it stood at the beginning of September and is down roughly 175 bps from levels a year ago.
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The yield on America's ten-year Treasury bond rose quickly by eight basis points (a basis point is one-hundredth of a percentage point).
So many firms are refinancing that the point at which there is likely to be a potentially worrying spike in high-yield debt falling due has receded from next year to 2012, says Martin Fridson of Fridson Advisers.
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